Newspaper article The Record (Bergen County, NJ)

Paterson Begins System of Annual Reassessments

Newspaper article The Record (Bergen County, NJ)

Paterson Begins System of Annual Reassessments

Article excerpt

PATERSON -- Inspectors from an appraisal company are scheduled to visit thousands of Paterson properties over the next two months as the city launches a new system of annual property reassessments, official said.

Last year's revaluation, which was the city's first in almost a decade, resulted in angry protests by homeowners whose property taxes had soared. Officials said conducting annual reassessments would soften the impact of changing property values.

"You won't see a spike," said Mayor Joey Torres. "It will be more gradual."

Paterson is paying Appraisal Systems Inc. of Morristown $200,000 a year to conduct the annual reassessments. The same company performed last year's revaluation.

Under the new contract, every property in the city will undergo a reassessment every year, officials said. …

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